Monday, August 25, 2025

Latest

Congo Launches Strategy to Diversify Mining Investments Beyond China

The Democratic Republic of Congo is making strategic moves to diversify its mining industry and attract new investors, according to recent statements from the country’s top mining official. Mines Minister Kizito Pakabomba outlined plans to streamline processes for customs and taxes, while also announcing a partnership with the United Arab Emirates.

A key component of the DRC’s strategy involves revamping a railway system to facilitate mineral exports through an Atlantic Ocean port, potentially offering easier access to US and European markets. 

This initiative includes improving the railway from Kolwezi, a major mining hub, to the Angolan border, connecting with a line leading to the port of Lobito. The US has already committed $553 million to upgrade the Angolan section of this railway.

The DRC’s Foreign Minister, Therese Kayikwamba Wagner, mentioned the possibility of a tender process for rebuilding the Congolese portion of the railway. Minister Pakabomba estimated the initial two-year cost of this rail improvement project at $245 million.

These efforts come as the DRC cements its position as a crucial player in the global metals market. The country recently surpassed Peru to become the world’s second-largest copper producer and remains the leading source of cobalt, both vital materials for the global energy transition.

The government’s push for diversification is partly driven by frustration over its limited influence in the mining sector, particularly in cobalt production. Despite accounting for about three-quarters of global cobalt output last year, the DRC has seen prices plummet to eight-year lows due to increased production, especially by Chinese companies like CMOC Ltd.

In line with its new approach, the DRC government recently opposed the sale of Trafigura Group-backed Chemaf Resources Ltd. to China’s Norin Mining Ltd., demonstrating its commitment to making “strategic choices” about mine ownership.

The country wants to “attract better investors, more investors and diversified investors,” according to Pakabomba.


Information for this story was found via Bloomberg, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

First Majestic Q2 Earnings: Another Record Quarter

Sandstorm Gold Fades Into Royal Gold Merger

Equinox Gold Q2 Earnings: Back On Track

Recommended

Emerita Resources Expands El Cura Drill Program By 10,000 Metres As Deposit Remains Open For Expansion

ESGold Signs MOU For Tailings Project In Colombia With Grades Up To 42 g/t Gold, 280 g/t Silver

Related News

Trump Copper Tariff Announcement Sends Prices to Record Highs

Copper prices exploded to historic levels Tuesday after President Donald Trump declared during a White...

Wednesday, July 9, 2025, 10:38:00 AM

Copper Retreats from May High as China’s Economic Boost Falls Short

Base metals markets are experiencing a significant downturn, with copper leading the decline amid concerns...

Tuesday, July 23, 2024, 11:03:43 AM

Interra Copper Mobilizes For Summer Drill, Exploration Program

Interra Copper (CSE: IMCX) this morning announced the commence of its summer exploration program at...

Tuesday, June 29, 2021, 07:59:11 AM

Surge Copper Raises $14.0 Million In Bought Deal Financing

Surge Copper Corp. (TSXV: SURG) today announced the closing of the company’s previously announced bought...

Thursday, June 10, 2021, 07:35:00 AM

Max Resource Assays 34.4% Copper, 305 G/T Silver Over 0.5 Metres of Continuous Outcrop At Cesar Project

Max Resource Corp (TSXV: MXR) this morning released new outcrop values from its wholly-owned Cesar...

Wednesday, July 29, 2020, 08:41:04 AM